Which the the following most most likely would it is in classified as a present liability?a. Dividend payableb. Binding payable in 5 yearsc. Three-year notes payabled. Mortgage payable as a single payment in 10 years
Current liabilities space due:a. However not unification for much more than one year.b. However not payable for an ext than one year.c. And also receivable within one year. D. And also payable in ~ one year.

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Moss County bank agrees to lend the Sadowski Brick company $500,000 on January 1. Sadowski Brick agency signs a $500,000, 6%, 9-month note. The entry do by Sadowski Brick agency on January 1 to record the proceeds and also issuance of the keep in mind isa. Interest Expense............. 22,500 Cash. ..................................477,500 notes Payable......................500,000 b. Cash....................................500,000 notes Payable......................500,000c. Cash................................... 500,000 interest Expense. ............22,500 note Payable......................500,000 d. Cash .................................. 500,000Interest Expense................... 22,500 note Payable......................500,000 interest Payable .....................22,500
Moss County financial institution agrees to loan the Sadowski Brick company $500,000 on January 1. Sadowski Brick firm signs a $500,000, 6%, 9-month note. What entry will certainly Sadowski Brick agency make to pay off the note and interest in ~ maturity assuming that interest has actually been accrued come September 30?a. Note Payable.................522,500 Cash..........................................522,500b. Notes Payable.................500,000 attention Payable.................22,500 Cash..........................................522,500c.Interest Expense.................22,500 note Payable..................500,000 Cash..........................................522,500d.Interest Expense.................22,500 note Payable..................500,000 attention Expense...................7,500 Cash..........................................522,500
b. Notes Payable.................500,000 interest Payable.................22,500 Cash..........................................522,500
Bonds with a confront value the $500,000 and a quoted price the 102¼ have actually a offering price ofa.$601,125.b.$510,125.c.$510,013. D. $511,250.
If the sector rate of interest is better than the contractual rate of interest, bonds will certainly sella. At a premium.b. At confront value. C. In ~ a discount.d. Only after the proclaimed rate of interest is increased.
Gomez Corporation worries 900, 10-year, 8%, $1,000 bonds date January 1, 2017, at 96.The journal entry to document the issuance will show aa. Debit come Cash the $900,000.b. Credit to Discount on binding Payable because that $36,000.c. Credit transaction to bond Payable for $864,000. D. Debit to Cash because that $864,000.
Five thousand bonds through a confront value the $1,000 each, are sold at 102. The entrance to document the issuance isa. Cash ...................................................... 5,100,000 binding Payable ........................................5,100,000b.Cash ...................................................... 5,100,000 Premium on bond Payable.............100,000 bonds Payable ......................................5,000,000c.Cash ...................................................... 5,100,000 Premium on bonds Payable ................ 100,000 bond Payable ...................................... 5,000,000d.Cash .........................................,............ 5,100,000 Discount on bond Payable .................100,000 bonds Payable .......................................5,000,000
c.Cash ...................................................... 5,100,000 Premium on bond Payable ................ 100,000 bond Payable ...................................... 5,000,000
Sparks agency received proceeds the $634,500 top top 10-year, 8% bond issued on January 1, 2016. The bonds had actually a confront value that $600,000, salary interest annually on December 31st, and have a call price of 102. Sparks provides the straight-line method of amortization. Sparks agency decided come redeem the bonds on January 1, 2018. What amount of get or loss would Sparks report on your 2018 revenue statement?a. $27,600 gain b. $15,600 gain c. $15,600 loss d. $27,600 loss
Alt Corp. Issues 5,000 share of $10 par value typical stock in ~ $14 every share. When the transaction is recorded, credits space made to:a. Typical Stock $50,000 and Paid-in resources in overabundance of proclaimed Value $20,000.b. Typical Stock $70,000. C. Common Stock $50,000 and Paid-in capital in overabundance of Par worth $20,000.d. Usual Stock $50,000 and also Retained income $20,000.
Tomlinson Packaging Corporation began business in 2017 by issuing 50,000 shares of $5 par usual stock because that $8 every share and 5,000 share of 6%, $10 par desired stock because that par. At year end, the usual stock had a market value that $10. Top top its December 31, 2017 balance sheet, Tomlinson Packaging would certainly reporta. Common Stock the $500,000. B. Typical Stock of $250,000.c. Typical Stock the $400,000.d. Paid-in funding of $330,000.
Johnson company issued 900 share of no-par typical stock because that $17,100. I m sorry of the complying with journal entries would be make if the stock has actually no declared value? a. Cash 17,100 usual Stock - No-Par worth 17,100b. Cash 17,100 common Stock - No-Par worth 900 Paid-in resources in overfill of Par 16,200c. Cash 17,100 typical Stock - No-Par value 900 Paid-in funding in excess of proclaimed Value 16,200d. Typical Stock - No-Par value 17,100 Cash 17,100
The complying with data is available for crate Corporation at December 31, 2017: typical stock, par $10 (authorized 30,000 shares) $270,000 Treasury share (at price $15 every share) $ 1,200Based on the data, how many shares of typical stock are issued?a.30,000. B.27,000.c.29,920.d.26,920.
A corporation purchase 20,000 shares of its very own $20 par usual stock because that $35 every share, record it at cost. What will be the effect on complete stockholders" equity?a. Increase by $700,000.b. Diminish by $400,000. C. Decrease by $700,000.d. Diminish by $300,000.
Dividends in arrears top top cumulative desired stocka. Are considered to be a non-current liability.b. Are considered to be a present liability.c. Only happen when preferred dividends have been declared. D. Need to be disclosed in the note to the financial statements.
Outstanding share of the West Corporation had 40,000 share of $5 par typical stock and also 10,000 shares of 5%, $10 par non-cumulative preferred stock. In 2016, West declared and also paid dividend of $4,000. In 2017, West declared and paid dividends of$20,000. Exactly how much that the 2017 dividend was dispersed to preferred shareholders?a.$9,000.b.$15,000. C. $5,000.d.None of these answer choices are correct.
The cumulative result of the declaration and also payment of a cash dividend top top a company"s jae won statements is toa. Decrease total liabilities and stockholders" equity.b. Increase total expenses and also total liabilities.c. Increase full assets and also stockholders" equity. D. Decrease complete assets and stockholders" equity.
Ace Inc. Has 10,000 share of 4%, $100 par value, cumulative desired stock and 50,000 share of $1 par value typical stock outstanding at December 31, 2017. What is the yearly dividend on the desired stock?a. $40 every share b. $40,000 in totalc. $4,000 in totald. $0.40 per share
Watson, Inc. Has 10,000 share of 5%, $100 par value, cumulative preferred stock and also 20,000 share of $1 par value usual stock impressive at December 31, 2017. There were no dividends claimed in 2015. The plank of director declares and also pays a $90,000 dividend in 2016 and in 2017. What is the quantity of dividends obtained by the common stockholders in 2017? a. $30,000. B. $40,000. C. $50,000.d. $0.
Nance Corporation"s December 31, 2017 balance sheet showed the following: 6% desired stock, $20 par value, cumulative, 30,000 share authorized; 20,000 share issued $400,000 typical stock, $10 par value, 3,000,000 share authorized; 1,950,000 shares issued, 1,920,000 shares superior $19,500,000Paid-in resources in excess of par worth - desired stock $60,000Paid-in funding in overabundance of par value - usual stock $28,000,000Retained revenue $9,650,000Treasury stock (30,000 shares) $630,000Nance declared and also paid a $85,000 cash dividend on December 15, 2017. If the company"s dividend in arrears prior to that day were $24,000, Nance"s typical stockholders receiveda. $61,000. B. $48,000. C. $37,000.d. No dividend.
Zoum Corporation had actually the following transactions throughout 2017:1. Issued $250,000 that par value typical stock because that cash.2. Recorded and paid wages expense of $120,000.3. Got land by issuing usual stock of par worth $100,000.4. Declared and paid a cash dividend the $20,000.5. Marketed a permanent investment (cost $8,000) because that cash of $6,000.6. Videotaped cash sales of $800,000.7. Bought inventory because that cash that $320,000.8. Obtained an investment in Zynga stock because that cash the $42,000.9. Converted bonds payable to usual stock in the amount of $1,000,000.10. Repaid a 6-year note payable in the amount of $440,000. What is the net cash listed by financing activities? a. $(210,000). B. $790,000.c. $(1,210,000). D. $230,000.
Vangaurd firm purchased treasury stock v a cost of $55,000 during 2017. During the year, the agency paid dividends of $20,000 and also issued bonds payable for proceeds the $876,000. Cash operation from financing activities for 2017 totala. $856,000 net cash inflow.b. $911,000 network cash inflow.c. $75,000 network cash outflow. D. $801,000 net cash inflow.
Assume that the E-Zip Corporation offers the indirect technique to depict cash flows. Suggest where, if in ~ all, floor purchased because that cash would certainly be share on the declare of cash flows.a. Operating tasks section. B. Investing tasks section.c. Financing activities section.d. Does not stand for a cash flow.
If accounts receivable have actually increased throughout the perioda. Revenues on one accrual basis are much less than earnings on a cash basis. B. Profits on an accrual basis are greater than profits on a cash basis.c. Revenues on an accrual basis are the very same as earnings on a cash basis.d. Costs on one accrual basis are greater than expenses on a cash basis.
Accounts receivable emerging from sales to customers price to $120,000 and also $105,000 at the beginning and also end of the year, respectively. Revenue reported top top the revenue statement for the year to be $457,000. To exclude, of the result of other adjustments, the cash flows from operating activities to be reported on the explain of cash flows isa.$457,000. B. $472,000.c.$562,000.d.$442,000.
Catalina company reported a network loss that $15,000 for the year ended December 31, 2017. Throughout the year, accounts receivable reduced $7,500, inventory boosted $12,000, account payable increased by $15,000, and also depreciation price of $9,000 was recorded. During 2017, operating activitiesa. Provided net cash that $4,500.b. Provided net cash the $10,500. C. Provided net cash of $4,500.d. Provided net cash that $10,500.

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A agency had net income of $282,000. Depreciation price is $26,000. During the year, accounts receivable and inventory increased $15,000 and also $40,000, respectively. Prepaid expenses and accounts payable decreased $2,000 and also $14,000, respectively. There was also a loss on the revenue of devices of $17,000. How much cash was provided by operating activities? a. $258,000. B. $241,000. C. $318,000. D. $339,000.
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